Ashtead Group plc (OTCMKTS:ASHTY) Sees Significant Drop in Short Interest

Ashtead Group plc (OTCMKTS:ASHTY) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 3,100 shares, a decrease of 85.5% from the January 15th total of 21,400 shares. Based on an average trading volume of 47,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group downgraded shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Ashtead Group Stock Up 0.4 %

OTCMKTS:ASHTY traded up $1.04 during midday trading on Friday, reaching $255.26. 6,978 shares of the stock traded hands, compared to its average volume of 39,715. Ashtead Group has a 12-month low of $235.29 and a 12-month high of $337.95. The business has a 50-day moving average of $262.44 and a two-hundred day moving average of $286.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a market capitalization of $27.83 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.69.

Ashtead Group (OTCMKTS:ASHTY) last posted its earnings results on Tuesday, December 10th. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.32). Ashtead Group had a net margin of 14.78% and a return on equity of 22.65%. On average, equities analysts forecast that Ashtead Group will post 15.51 earnings per share for the current fiscal year.

Ashtead Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be issued a $1.44 dividend. The ex-dividend date is Friday, January 10th. Ashtead Group’s dividend payout ratio is currently 19.70%.

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.